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SmarTrend Watching for Potential Pullback in Shares of Weatherford Inte After 2.01% Gain

By David Diaz

Weatherford Inte (NYSE:WFT) traded in a range yesterday that spanned from a low of $3.48 to a high of $3.63. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $3.59 on volume of 9.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Weatherford Inte share prices have been bracketed by a low of $2.07 and a high of $4.72 and are now at $3.56, 72% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Weatherford Inte on April 24th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.84. Since that recommendation, shares of Weatherford Inte have risen 22.9%. We continue to monitor WFT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders weatherford inte

Ticker(s): WFT